Higher PNG, CNG sales drive Indraprastha Gas' Q4 earnings; Logs 12% yoy rise in PAT

For FY20, the company's sales were at 2,357 mmscm versus 2,155 mmscm in FY19.

Jun 18, 2020 05:06 IST India Infoline News Service

The March 2020 (Q4FY20) quarter and the year-ended result was lifted on the back of healthy gas sales in both volume and value terms for Indraprastha Gas. The company witnessed a 12% rise in standalone net profit to Rs252.63cr in Q4FY20 compared to Rs224.72cr in the corresponding period of the previous year.

Overall, sales in volume terms were at 567 million standard cubic metres (MMSCMD) in the quarter from sales of 564 mmscm a year ago same period.

For FY20, the company's sales were at 2,357 mmscm versus 2,155 mmscm in FY19. Among the total, the CNG sales grew by 7% yoy, while PNG domestic sales were up by 18% yoy in volumes. However, natural gas recorded a sequential decline of 1% yoy.

In the fiscal, the sales were at Rs6,485cr higher by 13% from Rs5,740cr in FY19. In the total, CNG and PNG sales stood at Rs4,746cr and Rs1,705cr, up by 14% yoy and 8% yoy, respectively.

Meanwhile, the net profit on a standalone basis was at Rs1,137cr, up by a whopping 44% from Rs787cr in the previous fiscal.

Despite healthy earnings, Indraprastha Gas stock ended on a negative note at Rs449.50 per piece down, by 5.15% on Sensex.

Related Story